AvalonBay Communities (AVB) reported Q1 core funds from operations late Wednesday of $2.83 per diluted share, up from $2.70 a year earlier.
Analysts surveyed by FactSet expected $2.81.
Revenue for the quarter ended March 31 was $745.9 million, up from $712.9 million a year earlier.
Analysts surveyed by FactSet expected $743.3 million, if comparable.
The company expects Q2 core FFO of $2.72 to $2.82 a share. Analysts surveyed by FactSet expect $2.85.
AvalonBay reaffirmed its previously provided full-year 2025 core FFO guidance range of $11.14 to $11.64 a share. Analysts surveyed by FactSet expect $11.42.
Shares of the company fell 4.3% in recent after-hours activity.
Price: 201.04, Change: -8.94, Percent Change: -4.26
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